In my trade review post I had said, 1. NIFTY consolidated after the fall. To assess, if the fall on Wednesday was corrective or start of a new swing, I need to wait till Friday. 2. Friday, if NIFTY continues downwards journey, It may quickly succumb to pressure and move towards 10050 area soon. Closing above 10390 again, will confirm the consolidation. 3....
I'll review what I anticipated in my post yesterday 1. Today's price action can be a swing high formation. We need to wait till Friday EOD to confirm. 2. Overall now I assume the trend is consolidation with bearish bias. 10500-10600 is significant resistance, even if gets retested, it will be hard to break it quickly. 3. Tomorrow, being expiry, I dont have...
In my yesterday's update, I had said 1. I still think, crossing 10540-10580 is not easy. If with strong sentiment, there is gap up and it gets crossed, it'll be difficult to sustain above that without some retracement in the coming days. 2. For brave traders, there is good reversal trade around 10580 with SL 10700. To be done with options for next months...
In my post yesterday (link below), I had said, 1. NIFTY may face consolidation, but brief consolidation in the current zone - 10380-10280. 2. Even it goes little below but stays above 10060, the view remains intact. 3. 10380 does not look like a top. In next attempt, this will be taken out and NIFTY may move towards 10500. 4. Overall, as I discussed in my...
Going in for today's trade I had assumption that NIFTY likely to face resistance around 10300-10400 zone. My Trades today: 1. I was not sure of the trade. When there was support taken at opening range low, I bought 10300 CALL and squared it off at Opening range High. 2. My weekend trade was closed for loss. The Credit PUT spread created on Friday. My...
Review of last weekly view -------------------------------------------------------------------------------------------------------------------------------------------------------- Things I am sure of (~80%) 1. NIFTY to stay above 9600 2. There will be resistance from 10200-10500 Things I am somewhat believe (~60%) NIFTY likely to be choppy movements in the...
In my trade log dated June 18, I had said 1. Considering today's bullish day, there are two most probable possibilities. One, consolidation around 10100-10150. The other being the one more positive day tomorrow. 2. Tomorrow is Friday, so we can have q strong move. Since current trend is positive, the move can be assumed on the upside. Today my anticipation of...
In my June 17 post , I had said 1. This is more looking like consolidation of upswing which happened from 8800. Since context swing is up, we have to assume the breakout is more likely on upside. 2. Again 10000 is the level, break of which can start this up move. This can happen tomorrow or Friday. 3. I plan to trade with positive bias and avoid creating short...
In my yesterdays post, I had said 1) Considering the volatile moves for last 3 sessions, I think we may have relatively calm market for next two sessions. 2) I maintain my bias , consolidation with little bullishness. 3) The current situation is NIFTY has formed support around 9600-9700 region. And it has multiple resistances from 10000-10300. The move from...
In my last post I had said 1. I still think it is a consolidation day. I do not have much bearish bias for tomorrow. 2. I think NIFTY is likely to touch the other end of range ~ 10000. 3. Depending on how it reacts near that level will decide the next course of action. 4. There was some congestion in the small range of 9788 - 9870. This is likely to be some low...
I had posted my weekly view yesterday 1. The touch of 9730 has happened today. 2. NIFTY has closed 1st time below 9824-9843, an important level which I watch closely. My trades today 1. Once again simple trade worked. I sold 9800 CALL when opening range was broken out and then covered it on first sign of weakness. 2. As mentioned in weekly update, I have...
I’ll start my this week’s view with the larger context of monthly update which I posted start of this month Few important points, I want to reiterate to myself NIFTY is in bear market till my view invalidates , that is sustaining above 11200-11400. In bear markets, there is price / time value deterioration of wealth. This could last at least 12-15 months....
I posted this view yesterday, June 11 1. I'll continue to assume this is consolidation and any close below 9843 will create doubts in my mind. 2. At the same time, I think, the lower end of the range is close or discovered. And NIFTY now should make attempt again towards 10200. 3. I'll wait to see action on Friday and Monday to see if NIFTY goes and takes out...
In my Trade log yesterday, I blogged 1. Today was a typical consolidation day. Nothing much to read about for me. 2. IF NIFTY goes below 10020 tomorrow, it has not still found lower boundary of the range. 3. If NIFTY moves fast towards 10280, there could be failure of that bounce in 10300 area. 4. I assume 9900 to 10300 range for tomorrows expiry. The range...
In my trade log yesterday, I had said 1. NIFTY is in consolidation. It is likely to see some downside tomorrow as well. 2. This is not a simple dip, This is likely to form range. 3. 10300 is firm resistance, any upside is possible only above that. 4. NIFTY is now searching for lower end of the range - first candidate for that is last swing low 9950. This is...
In my trade log for Yesterday, I had said 1. NIFTY has started consolidation. I am going to assume consolidation at least tomorrow morning session till noon. 2. In this consolidation, there are two possibilities - 1. Simple dip 2. Formation of range couple of days. To understand and confirm one of these we need conclusive break of last breakout level...
Today is the start of new week. My trades today: 1. When NIFTY chopped around low of the opening range, I sensed that this likely to be consolidation day. I shorted 10300 CALL and exited for profit on first sign of bounce. 2. I sold credit put spreads on both sides as per my weekly plan. My weekly plan is here My observations for the day. 1. Lot of...
In my view of 4th June I had said 1. NIFTY may not give rapid gains now as VIX is cooling and below 30. 2. NIFTY has strong resistance starting from 10380 - 10600. 3. In next 2-3 days, as early as tomorrow, NIFTY may see strong push towards 10400. 4. BANK NIFTY is under performer, but for the last push , it may again drag NIFTY along. 5. Tomorrow, if opened...